PROVINCIAL ECONOMIC PROFILE
Quebec Economic Overview
$454.3b
GROSS PROVINCE PRODUCT
Growth Rate 2020-25
Province
Growth Rank
3.0%
8
9,191,804
POPULATION
Growth Rate 2020-25
Province
Growth Rank
1.5%
10
660,582
BUSINESSES
Growth Rate 2020-25
Province
Growth Rank
2.7%
3
Overview of the Quebec Economy
In 2025, the province of Quebec has a population of 9,191,804, having grown an annualized 1.5% over the five years to 2025, which ranks it 10th out of 13 provinces and territories by growth rate. Quebec's gross domestic product (GDP) in 2025 reached $454.3b, with growth of 3.0% over the 5 years to 2025. Businesses in Quebec employed a total of 3,058,438 people in 2025, with average annual employment growth over the past five years of 2.4%. The top three sectors by total employment are Manufacturing, Real Estate and Rental and Leasing, Healthcare and Social Assistance, while the unemployment rate across the province in 2025 was 5.8%.
What is Quebec's Gross Domestic Product (GDP)?
In 2025, Quebec's GDP reached $454.3b, representing an increase of 3.0% from 2024. Quebec's GDP has grown at an annualized rate of 1.9% over the five years to 2025. Moreover, Quebec's trailing five-year GDP growth ranks it 8th out of 13 provinces and territories.
Provincial GDP is a measurement of a province's output, or the sum of value added from all industries in the province. It is a common indicator used to track the health of a provincial economy.
PROVINCIAL ECONOMIC PROFILE
Quebec Industry Trends
What are Quebec's Largest Industries by Revenue?
The largest industries by revenue in Quebec are Commercial Banking, New Car Dealers and Gasoline & Petroleum Wholesaling, which generated $85.6b, $47.2b and $38.5b in 2025.
PROVINCIAL ECONOMIC PROFILE
Top Companies in Quebec
Top 10 Companies in Quebec by Employment
The largest companies by employment in Quebec are Government of Quebec, Metro and The Desjardins Group, which employed 87,000, 72,000 and 55,290 people in 2025.
PROVINCIAL ECONOMIC PROFILE
Quebec Sector Statistics
In Quebec, certain sectors drive a higher share of provincial GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
What is Quebec's GDP by Sector?
The Manufacturing, Real Estate and Rental and Leasing and Healthcare and Social Assistance sectors contributed the most to Quebec's GDP in 2025, representing a combined 33.0% of provincial GDP.
GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the provincial economy, in addition to how the provincial economy is evolving over time.
What is Quebec's Employment by Sector?
The Retail Trade, Manufacturing and Accommodation and Food Services sectors contributed the most to employment in Quebec in 2025, representing a combined 46.2% of provincial employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the provincial economy as a whole.
PROVINCIAL ECONOMIC PROFILE
Quebec Employment Trends
3.1m
EMPLOYMENT
Growth Rate 2020-25
Province
Growth Rank
3.0%
9
5.8%
UNEMPLOYMENT
Growth Rate 2020-25
Province
Growth Rank
-8.1%
8
What Employment Trends are Impacting Quebec's Economy?
The province of Quebec employs 3,058,438 people in 2025, which ranks it 2nd out of 13 provinces and territories. Employment in Quebec has grown at an annualized rate of 3.0% over the five years to 2025, overperforming the national average of 1.8%. Major sectors by employment in Quebec include Retail Trade, Manufacturing and Accommodation and Food Services, which employed 656,552, 444,813 and 312,781 people in 2025, respectively. Quebec's unemployment rate is 5.8% in 2025, which ranks it 7th out of 13 provinces and territories. Quebec's unemployment rate has trended downwards at a rate of -8.1% over the five years to 2025, overperforming the Canada economy as a whole. Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets. You can track unemployment trends in Quebec, and compare them to the Canadian economy.
$85.3k
PER CAPITA DISPOSABLE INCOME
Growth Rate 2020-25
Province
Growth Rank
3.6
8
What is Quebec's Per Capita Disposable Income?
Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. Quebec's DPI in 2025 was $85.3k, compared to the Canadian average of $107.8k, which places it 8th out of 13 provinces and territories.
Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.
PROVINCIAL ECONOMIC PROFILE
Quebec Construction & Building Trends
$1.4b
NONRESIDENTIAL CONSTRUCTION
Growth Rate 2020-25
Province
Growth Rank
6.8%
5
$3.3b
RESIDENTIAL CONSTRUCTION
Growth Rate 2020-25
Province
Growth Rank
8.1%
7
45,812
BUILDING PERMITS
Growth Rate 2020-25
Province
Growth Rank
-5.0%
3
What can construction trends tell you about a state’s economy?
In Quebec, non-residential construction was $1.4b in 2025, which ranks it 5th out of 13 provinces and territories. Residential construction was $3.3b in 2025, which places Quebec 7th out of 13 provinces and territories. The number of building permits issued in Quebec in 2025 was 45,812, representing a -5.0% annualized growth rate between 2020 and 2025.
Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services.Therefore, construction trends are important indicators of the health of an economy.
PROVINCIAL ECONOMIC PROFILE
Quebec Population Statistics
Which Counties in Quebec have the Largest Populations?
The counties with the highest populations in Quebec are Montréal, Québec and Sherbrooke, which had populations of 3,902,617, 716,293 and 201,283 people in 2025.
PROVINCIAL ECONOMIC PROFILE
Quebec Demographics
Education Level Quebec
Quebec Province Industry Reports
IBISWorld Province Industry Reports help you quickly understand how an industry performs at the province level compared with the national level by providing accurate and unbiased industry information with a local focus. Use this collection to:
- Discover key local industry trends
- Identify threats and opportunities at the subnational level
- Inform your business strategies and planning
See our list of 428 Quebec Industry Reports.
